Lundin Mining (TSE:LUN) Hits New 1-Year High – Still a Buy?

Lundin Mining Co. (TSE:LUN)’s share price reached a new 52-week high during trading on Monday . The company traded as high as C$32.16 and last traded at C$32.11, with a volume of 517444 shares changing hands. The stock had previously closed at C$29.71.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Cormark raised shares of Lundin Mining from a “hold” rating to a “moderate buy” rating in a report on Monday, December 22nd. Citigroup set a C$32.00 target price on shares of Lundin Mining and gave the stock a “buy” rating in a report on Monday, December 15th. Morgan Stanley raised their price target on Lundin Mining from C$25.80 to C$29.60 in a report on Tuesday, December 16th. Stifel Nicolaus boosted their target price on shares of Lundin Mining from C$18.00 to C$26.00 in a report on Tuesday, October 21st. Finally, Haywood Securities boosted their price target on shares of Lundin Mining from C$28.00 to C$32.00 in a research note on Tuesday, December 16th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$25.42.

Lundin Mining Stock Up 6.8%

The firm has a market cap of C$27.11 billion, a PE ratio of 1,057.67, a price-to-earnings-growth ratio of -0.26 and a beta of 2.12. The company has a 50-day simple moving average of C$26.10 and a 200-day simple moving average of C$19.89. The company has a debt-to-equity ratio of 41.58, a current ratio of 1.40 and a quick ratio of 0.90.

Lundin Mining (TSE:LUN) last issued its quarterly earnings results on Wednesday, November 5th. The mining company reported C$0.18 earnings per share (EPS) for the quarter. Lundin Mining had a return on equity of 5.55% and a net margin of 6.63%.The firm had revenue of C$1.40 billion during the quarter.

About Lundin Mining

Lundin Mining Corp is a diversified Canadian base metals mining company with operations in Brazil Chile Portugal Sweden and the United States of America producing copper zinc gold and nickel. Its material mineral properties include Candelaria Chapada Eagle and Neves-Corvo.